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  • Hub You - Government Agencies Warn Banks of Exotic Mortgages

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    A message from multiple government agencies was released on Friday, warning banks to make mortgage loans to borrowers that they can pay back. The message continued to say that lenders should make sure that exotic loan borrowers know how high their monthly payments could become.

    Millions of homeowners have fou

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    day, warning banks to make mortgage loans to borrowers that they can pay back. The message continued to say that lenders should make sure that exotic loan borrowers know how high their monthly payments could become.

    Millions of homeowners have fo

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    y can pay back. The message continued to say that lenders should make sure that exotic loan borrowers know how high their monthly payments could become.

    Millions of homeowners have fo

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    d make sure that exotic loan borrowers know how high their monthly payments could become.

    Millions of homeowners have fo

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    hly payments could become.

    Millions of homeowners have found that their creative ways to stretch into a home have left them with mortgage payments too high to pay. Most of these lenders have nontraditional mortgage products, including interest-only and optional payment ARMs.

    "We saw the potential for pr

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